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Fly News Breaks for November 1, 2017
CEMP
Nov 1, 2017 | 07:45 EDT
Baird analyst Brian Skorney upgraded Cempra to Neutral from Underperform following the stock's recent weakness and announcement of its proposed Melinta merger. While he still sees the planned solithromycin study as "a waste of money" and does not believe the launch of Baxdela is likely to be stronger than other recent antibiotics, he sees it as "risky" to look for additional downside with enterprise value already close to zero. Skorney keeps a $2 price target on Cempra shares.
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